Malcolm Turnbull hints at tax cuts for middle-income earners

Prime Minister Malcolm Turnbull has revealed he is working to cut taxes for millions of middle-income earners in the lead up to the next federal budget.

Minister Turnbull made the revelation while addressing a Business Council of Australia dinner in Sydney on Monday night.

“In the personal income tax space, I am actively working with the Treasurer and my Cabinet colleagues to ease the burden on middle-income Australians, while also meeting our commitment to return the budget to surplus,” Mr Turnbull said.

“My commitment to all Australians is this: whether you are starting out in your first job, a worker providing for their family, or a business hiring staff, our goal is always to leave more money in your pocket, not in ours.

The Prime Minister said one of the way’s to increase the income of millions of Australians was by easing the tax burden through lower taxes.

“Another way of putting more money into people’s pockets is by increasing their disposable income through lower taxes,” he said.

“Higher taxes penalise people who are trying to get ahead. But when you reward hard work and enterprise, you encourage hard work and enterprise.”

“We are determined to ensure that the Australian people are holding onto more of their hard-earned money.” – @JulieBishopMP. #9Today pic.twitter.com/h35ogPZ2cM

— The Today Show (@TheTodayShow) November 20, 2017